Oil slides on heightened recession worries and a fresh 20-year high for the US dollar.Fears about global recession ramped up after this week's round of rate hikes by central banks.
The threat of a global recession continues to weigh on oil prices, with widespread monetary tightening over the last couple of days fueling fears of a significant hit to growth.Central banks now appear to accept that a recession is the price to pay for getting a grip on inflation, which could weigh on demand next year
Oil prices were also lower as the US Dollar continued to march higher. The US Dollar Index xontinues to rise non stop, pushing past 112 to reach a fresh 20-year high. Dollar-denominated oil prices can be hurt by gains in the greenback's value as it makes the commodity more expensive to purchase by holders of foreign currencies
i only recommend to take short positions over every corrections towards 75$ and then 65 $
The threat of a global recession continues to weigh on oil prices, with widespread monetary tightening over the last couple of days fueling fears of a significant hit to growth.Central banks now appear to accept that a recession is the price to pay for getting a grip on inflation, which could weigh on demand next year
Oil prices were also lower as the US Dollar continued to march higher. The US Dollar Index xontinues to rise non stop, pushing past 112 to reach a fresh 20-year high. Dollar-denominated oil prices can be hurt by gains in the greenback's value as it makes the commodity more expensive to purchase by holders of foreign currencies
i only recommend to take short positions over every corrections towards 75$ and then 65 $